U.N. Warns Of Sanctions For Oil Trading With Syria, Iraq Militants

WochitJul. 28, 2014. 08:34 AM EST

Security Council expressed grave concern on Monday over reports that radical militants have seize...
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Security Council expressed grave concern on Monday over reports that radical militants have seized oilfields and pipelines in Syria and Iraq and warned that anyone caught trading in oil from the "terrorist groups" could face sanctions. The 15-member council said in a statement that any trade in oil with Islamic State - previously known as the Islamic State in Iraq and the Levant would violate United Nations sanctions as both groups have been blacklisted. The Russian-drafted statement "strongly condemns any engagement in direct or indirect trade of oil from Syria and Iraq involving terrorist groups," and "emphasizes that such engagement constitutes financial support for terrorists and may lead to further sanctions listings."
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